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Daimler CEO says nobody is making money on EVs right now

What do you charge for a vehicle you're going to lose money on? If you're Mercedes-Benz and the vehicle in question is the B-Class Electric Drive, you offer it for lease for just 399 euros ($498) a month with a down payment of 8,473 euros ($10,582). If Daimler was going to price it honestly, it seems, the number would have to be a lot higher. "Nobody today is making a battery-powered vehicle that's economically viable." – Daimler CEO Dieter Zetsche That's according to Daimler CEO Dieter Zetsche, who spoke to reporters in Spain recently and said that, "You can reasonably say that nobody today is making a battery-powered vehicle that's economically viable in its own right. Manufacturers will not see a return within a reasonable time on the billions they're investing now." There are ways to make money in EVs, of course. Just ask Daimler, which recently sold its stake in Tesla for a cool $780 million. Zetsche has some EV-critical company in executives like Fiat Chrysler CEO Sergio Marchionne, who has said his company loses over $10,000 on each Fiat 500E it sells. Other automakers – e.g., Tesla, Nissan – are much more positive about their financial bet on EVs, but no one is opening all their books to the public to prove this. Tesla, which worked with Mercedes on the B-Class ED, will have an earnings call with investors later today, so perhaps we'll learn something new in a few hours. The B-Class ED lease deal is for 36 months, based on an MSRP of 39,151 euros ($48,895) in Europe, including the 19 percent VAT. You can read more in the press release below. Commercial release of Mercedes-Benz B-Class Electric Drive: Local emission-free driving from ˆ399/month Stuttgart, Nov 03, 2014 With its high-torque electric motor, the B-Class Electric Drive delivers lively and superior driving pleasure – with zero local emissions. The B-Class Electric Drive is now available to order, with deliveries set to start before the end of 2014. Prices start at ˆ39,151[1]. The B-Class Electric Drive can be leased through the Mercedes-Benz Bank from ˆ399 a month[2]. Further information on the full range of tailor-made leasing and financing offers as well as specific pricing examples are available at http://www.mercedes-benz-bank.de. Quiet and local emission-free driving is ensured by a 132 kW electric motor, which, as is typical of an electric drive, delivers its maximum torque of 340 Nm right from the start. The result is noticeably powerful acceleration from rest.

Project Maybach is an absurd, awesome off-road electric coupe

Mercedes has created some mighty unusual concepts for the Maybach luxury brand. The Exelero high-speed test car and the Ultimate Luxury SUV sedan come to mind. But the Project Maybach, designed in collaboration with late fashion designer Virgil Abloh, may be the wildest yet, being an electric off-road coupe. It's not just the fact it's a two-door off-road coupe. It's the fact that it's a nearly 20-foot-long two-door off-road coupe. And it has very traditional proportions and lines, with a gargantuan front end, and a somewhat less gargantuan rear end. It's squared-off, but in a more elegant, midcentury luxury car way than say, a Hummer. And of course, it has a huge chrome grille and highly embellished taillights, complete with Maybach logos. And yet, this old-school coupe sits high off the ground. It rolls on small, steel-style wheels with chunky tires. It even has skid plates, bolt-on fender flares, rock rails and a roll cage with a roof basket. It's all painted in a matte tan paint that makes it look like a desert-ready expedition vehicle. It's even arguably practical for expedition work. The somewhat spartan-looking interior has tan leather seats that recline fully flat for sleeping. Being an electric car with long areas unoccupied by people, plus that roof basket, it likely has loads of cargo space. On the hood are solar panels that might provide a bit of range, but would at least be handy for recouping some power for accessories. The interior seems to have additional storage bins and tools stowed in special compartments around the cabin. As for the actual performance and range, well, Mercedes has nothing specific. That's not entirely surprising, since this seems to be solely a design exercise. As such, don't expect to see a production model anytime soon. Then again, off-road luxury vehicles are certainly popular. Maybe Mercedes would consider it if there were enough seriously wealthy customers expressing interest. Related video:

The 2016 Spanish Grand Prix flipped all the scripts

The Monaco Formula 1 Grand Prix circuit and the Hungaroring fly the flag for processional races, yet Spain's Circuit de Catalunya is arguably as bad. Before this weekend, the pole-sitter won the race 19 times out of the last 25 years. The front row of the grid produced 23 winners in the past 25 years. The racing gods edited that script this year, when a first-lap crash and two mid-race strategy changes kept things open until the end of the 66-lap race. It started when Mercedes-AMG Petronas teammates Nico Rosberg and Lewis Hamilton took each other out on Lap 1. After Rosberg passed pole-sitter Hamilton into Turn 1, Rosberg's car slowed through Turn 3, somehow in the wrong mode. Hamilton closed in on Rosberg so quickly that once the Brit ducked inside for the pass, he couldn't back out. Rosberg, however, closed the door so suddenly that Hamilton had no choice but to drive onto the grass. When Hamilton spun, he collected Rosberg and both Mercedes' ended up in the gravel trap. The stewards deemed it a racing incident. The crash put Red Bull teammates Daniel Ricciardo and Max Verstappen in the lead, followed by Toro Rosso driver Carlos Sainz and the Ferrari duo of Sebastian Vettel and Kimi Raikkonen. Both Ferraris cleared Sainz by Lap 10, leaving 56 laps for them to haul in the Red Bulls. Ferrari loosely followed Red Bull's pit strategies. Ricciardo pitted on Laps 11 and 28, Vettel pitted on Laps 15 and 37. Verstappen pitted on Laps 12 and 35, Raikkonen pitted on Laps 13 and 36. Pirelli predicted a three-stop race as the fastest and that the medium tire could only go about 23 laps. Verstappen and Raikkonen didn't get those memos. So while Ricciardo and Vettel came in for third stops the Dutchman and the Finn stayed out, with Verstappen ahead of Raikkonen at the front of the race as of Lap 43. That's when Verstappen – 18 years and 227 days old – proved how good a driver he is, lapping perfectly as second-place Raikkonen closed the gap to a little more than half a second. The Finn still couldn't get past the Dutchman down the pit straight even with the help of DRS, nor under braking at the only real passing opportunity into Turn 1. At the end of Lap 66 Verstappen crossed the line ahead of Raikkonen, a victorious end to Verstappen's first race weekend after being promoted to Red Bull. Further back, Vettel and Ricciardo fought for scraps, the German staying ahead to finish third.